John Lee
NERDWALLETAbout John Lee
John H. (Jun Hyung) Lee, age 39, became Chief Financial Officer of NerdWallet (NRDS) effective March 17, 2025; he previously served as CFO/COO of Divvy Homes (2022–2025) and was a Managing Director in Blackstone’s Private Equity group (2014–2021), with earlier experience referenced at TPG Capital. He holds B.S. and B.A. degrees in Mathematical & Computational Science and Economics from Stanford University and an MBA from Harvard Business School . Since his appointment, NRDS reported quarterly revenues of $209.2M (Q1’25), $186.9M (Q2’25), and $215.1M (Q3’25), with net income of ~$0.2M (Q1’25), ~$8.2M (Q2’25), and ~$26.3M (Q3’25) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Divvy Homes | Chief Financial Officer & Chief Operating Officer | 2022–Mar 2025 | Led finance and operations; joined NRDS to “drive sustainable growth, financial discipline, and long-term value” |
| Blackstone (Private Equity) | Managing Director | 2014–2021 | Senior investing/operator experience in PE; last role as MD |
| TPG Capital | Earlier career role | Not disclosed | Not detailed; referenced in appointment press release |
External Roles
No public company directorships or external board roles disclosed for John Lee .
Fixed Compensation
| Component | 2025 Terms | Notes |
|---|---|---|
| Base salary | $500,000 | Effective with CFO appointment |
| Target annual bonus | 70% of base salary | 2025 target will not be prorated |
| Annual incentive plan metrics | Revenue-related growth and non-GAAP operating income metrics | Applies to executive officers in 2025; specific weightings/targets not disclosed |
Performance Compensation
Annual Cash Incentive (2025)
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Revenue-related growth | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Cash bonus for FY performance |
| Non-GAAP operating income | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Cash bonus for FY performance |
Equity Awards (2025 Appointment)
| Award type | Target grant value | Vesting schedule | Details |
|---|---|---|---|
| RSUs (ongoing comp) | $1,250,000 (50% of $2.5M) | 4-year schedule; 1-year cliff then equal quarterly vesting | Subject to continued employment |
| Stock options (ongoing comp) | $1,250,000 (50% of $2.5M) | 4-year schedule; 25% at 1 year, then 1/48 monthly | Exercise price set at grant FMV |
| RSUs (new hire grant) | $1,750,000 (50% of $3.5M) | 4-year schedule; 1-year cliff then equal quarterly vesting | Appointment-related grant |
| Stock options (new hire grant) | $1,750,000 (50% of $3.5M) | 4-year schedule; 25% at 1 year, then 1/48 monthly | Appointment-related grant |
Notes: No PSUs or performance options tied to specific multi-year goals were disclosed for John Lee’s 2025 grants; option strike prices will equal market value on grant date .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial ownership (as of Mar 24, 2025) | John Lee beneficially owned less than 1% of Class A; no shares or options reported within 60 days (table shows “—”) |
| Stock ownership principles | CEO and CFO agreed to retain holdings (vested + unvested) worth at least 6x and 4x total annual cash compensation, respectively (no formal guideline policy) |
| Hedging/derivatives | Prohibited for officers, directors, and employees |
| Pledging/margin | Prohibited for officers, directors, and employees |
| Short sales | Prohibited |
| Clawback (compensation recovery) | Nasdaq 10D-compliant policy effective Oct 2, 2023; requires recovery of erroneously awarded incentive comp upon restatement |
Employment Terms
| Term | Provision |
|---|---|
| Start date | Effective March 17, 2025 (appointed Feb 13, 2025) |
| Severance policy eligibility | Eligible to participate in NRDS Change of Control & Severance Policy |
| Severance (qualifying termination) | Lump-sum of base salary for 6 months; COBRA for severance period; no prorated bonus after Mar 15, 2023 amendment |
| Severance (change-in-control termination) | 12 months severance; payment of annual target bonus at 100%; full acceleration of unvested time-based equity (excludes performance-based awards) |
| Trigger mechanics | “Double trigger” — termination without cause or resignation for good reason within 3 months before to 12 months after change-in-control |
| Anti-hedging/pledging | See Equity Ownership & Alignment above |
| Compensation Committee and advisor | Compensation Committee chaired by Lynne Laube; advised by Frederic W. Cook & Co., Inc. |
| Say-on-pay status | NRDS is an emerging growth company and is exempt from holding advisory say-on-pay votes |
Company Performance During Tenure
Values retrieved from S&P Global. Metrics with asterisk have no document citations and are sourced from S&P Global.
| Metric | Q4 2024 (oldest) | Q1 2025 | Q2 2025 | Q3 2025 (newest) |
|---|---|---|---|---|
| Revenues ($USD) | $183.8M | $209.2M | $186.9M | $215.1M |
| EBITDA ($USD) | $13.8M* | $4.5M* | $14.5M* | $38.4M* |
| Net Income - (IS) ($USD) | $38.6M | ~$0.2M | ~$8.2M | ~$26.3M |
| Diluted EPS - Continuing Operations ($USD) | $0.51 | ~$0.0026 | ~0.110 | ~0.34 |
S&P Global disclaimer: EBITDA values marked with an asterisk are retrieved from S&P Global and lack document citations.
Investment Implications
- Alignment signals: Large equity-heavy package ($6.0M total target value across ongoing and new-hire grants) with four-year vesting enhances retention and long-term alignment; anti-hedging/pledging policy and clawback reduce governance risk .
- Change-in-control economics: Double-trigger protection with full acceleration of time-based awards and 12 months severance could reduce retention risk in a sale scenario; monitor any performance-based equity structures in future grants for true pay-for-performance exposure .
- Ownership and potential selling cadence: As of the record date, John Lee had de minimis beneficial holdings, so near-term alignment depends on unvested awards; future quarterly RSU vesting may create predictable tax-related transactions—monitor Form 4s post one-year cliff and thereafter .
- Performance linkage: 2025 bonus metrics are tied to revenue growth and non-GAAP operating income, directly linking cash incentives to operational execution; specific weightings/targets are not disclosed, limiting precision of pay-for-performance assessment .
Related governance context: NRDS’s Compensation Committee is fully independent and advised by FW Cook; company status as an emerging growth company limits say-on-pay disclosures/votes, making proxy narratives and 8-Ks key sources for compensation analysis .